Bellway points to slowdown

Bellway yesterday became the latest housebuilder to report a slowdown in sales and visitor numbers since the bank run at Northern Rock in September. Financial Times. The Times

Reporting record full-year pretax profits to the end of July of £234.8m, a rise of 6% on a revenue rise of 9% to £1.35bn, John Watson, chief executive, said he was ‘concerned’ about the direction of the market since Northern Rock.

‘The situation was fine until mid-September but has tailed off since then,’ he said. ‘We have made 60 sales fewer than last year, but with just four weeks to look at, it can only be a snapshot of what is happening.’